As per a report by Transparency Market Research, the global ophthalmic drugs market will likely attain a value of US$34.3 bn by 2025 from US$24.4 bn in 2016 by registering a tepid CAGR of 4.0% from 2017 to 2025.

Based on geography, the key segments of the global ophthalmic drugs market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America, among them, at present is the leading region on account of higher uptake of advanced novel products and techniques, and high cost of therapies among all regions. The market in North America is slated to become worth US$13.80 bn by 2025.

Increased Investments in Research to Develop More Effective Products, Drives Market

At the forefront of driving growth in the global ophthalmic drugs market is obviously the rising instances of eye diseases and consequent visual impairment. Elaborates the lead analyst of the TMR report, “Ophthalmic drugs is an expanding market because of the increasing prevalence of intraocular eye disorders such as cataract, glaucoma, age-related macular degeneration, diabetic retinopathy, etc. This are mainly seen in the elderly.

Further, there is a rising incidence of eye diseases globally such as dry eye, conjunctivitis, uveitis, and others, and the number of people afflicted with eye diseases is predicted to grow exponentially in the next couple of years. Sensing an opportunity in this, major market players across the globe are upping investments in research to innovate on treatment methods and improve the drug’s action mechanism with novel biological agents.”

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